Credit Unions Chartered In The State Of Michigan
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2019 | 31,907,773 | 29,418,402 | 2,489,371 | 26.8 | 30% |
| 2020 | 31,747,235 | 29,215,869 | 2,531,366 | 28.2 | 31% |
| 2021 | 33,015,111 | 26,755,809 | 6,259,302 | 32.4 | 34% |
| 2022 | 35,812,251 | 30,020,235 | 5,792,016 | 26.9 | 34% |
| 2023 | 42,104,836 | 38,372,237 | 3,732,599 | 22.7 | 28% |
In its most recent public year (2023), this organization brought in $3,732,599 more than it spent. Its reserves stood at about 22.7 months of spending, down from 26.8 in 2019. Staff pay was 28% of spending.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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